The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-07-27
THE RAID ON RUSSIAN sECURIrIEs.
European Financiers Confident that the
Situation WIN ImproVe.

European Financiers Confident that the
Situation VIII Improve.
BERLIN, July 29.-[Copyright, 1887, by
New York Associated Press. THE cam.
paign against Russian securities has
abated, but the belief on the Bourse is that
the cessation of the newspaper attacks is
mere aTmistice. The renewal of the raid
Russias ecomic policy and partly on the
power of the small German capitalists
having Russian investments to stand
further strain. The war has already taught
Russia that Germany has effective
means OF retaliations for the hostile tar
ifs and commercial restrictions imposed
upon German trade and traders. The Rus
sian ambassadors return to Berlin on
Wednesday was unexpected at the embassy
and was due solely to the alarm felt at st.
Petersburg over the depreciation of Rus
sisn securities and the stoppage of Rus
sian credit at all European finance GEN.
ters. Count Schouvaloff conferred with
chiefs of the firms of Mendelssohn and the
Reichroders and other eminent bankers
and tried to influence them by assurances
of Rutsias desire TO cultivate more friend
ly economic relations with Germany. The
ambassador, however, made no official rep
resentation on the subject to the German
foreign Office. His statements were COM
municated to Prince Bismarck through the
Blaichroders, and as the bankers recon-
mended cessation of the attacks, only on
accoun of German investors, the Russians
have been allowed period of rest. It is
inn ossible to calculate with exact
iiude the loss to holders of Rus.
sian sec urities since official inspir-
alton set the raid agoing. Estimates
range from 10, 5,O00. 900 to 100000 600 marks
as the amount of Russian securities sold by
scared investors, who were willing to get
nd of them at any sacrifice. The bonefide
sales thrown on the Bourse had nothing
TO do with speculation. The question now
asked is, what has become of the stock2
Does it remain in Germany, or has the
object of the crusade to get back German
capital invested in Russian securities been
achieved2 The best informed members of
the Bourse and bankers say the bulk re-
mains in Germany; that the Russian
treasurer's attempt to check the fall by ex-
tensive rebuylng swept back into Russia
no more than one-tenth of the amount un-
loaded here; that foreign orders absorbed
probably another tenth, and that large
capitalists of Berlin and Frankfort bought
the rest. These fnanciers are confident
that the situation will improve. and that
the inspired press will now waken up to
the fact that the war has cost both sides
dear, and that the way to free Germany
from Russian bonds, is not by frightening
investors, to throw the bonds blindly on
the market, but the slower process of
gradual disposal of them in other markets.
The National Zeitung, commenting of
investors losses, says: "The Russian Sc
curities must leave through the same
doors by which they entered years ago,
namely, those of the great bankers. When
the government first introduced Russian
securities to our market, it knew how to
find bankers to act as intermediates. Let
the government find them now for the op-
posite purpose. 1t should be the aim of
the goveTnm ent to maintain the price of
Russian securities at such a level as to
cause them gradually to leave the country
for foreign markets"